1.The Government decided to sell nearly 3.5 million tonnes of pulses to states at Rs 15 per kg lower price than the wholesale rate for distribution under public distribution system (PDS) and other welfare schemes.The decision in this regard was taken by the Cabinet Committee on Economic Affairs.
2.The President of India, Ram Nath Kovind, inaugurated the ‘One District One Product’ (ODOP) Summit on August 10, 2018 in Lucknow, Uttar Pradesh.The scheme aims at promoting one traditional industry in every district such as lock industry in Aligarh, silk-weaving in Varanasi and biscuit-making in Amethi.Under ODOP, Rs 250 crore loans will be disbursed to start-ups.
3.Ikea, the Swedish retail giant opened its first Indian store in Hyderabad on 9th August 2018.Ikea’s next store is planned to open in Mumbai in the summer of 2019, followed by another in Bangalore in 2020.
4.PayPal, and HDFC Bank have entered into a partnership.The partnership will result in a safer, faster and more convenient payment experience for HDFC Bank cardholders and help drive incremental digital spend.HDFC cards will be presented as a payment option during enrollment and subsequent payments, with the ability for consumers to easily open PayPal accounts.
5.The Ministry of Water Resources, River Development and Ganga Rejuvenation announced the winners for the first fortnight of the ‘Jal Bachao, Video Banao, Puraskar Pao’ contest that was launched on 10th July 2018.The winners will be given prize amount of Rs 25,000/, Rs 15,000/- and Rs 10,000/- respectively.The objective of the contest is to spread awareness about water conservation.
6.Javelin thrower star Neeraj Chopra will be India’s flag bearer in the opening ceremony of the Asian Games 2018.Chopra, who won the gold medal in Commonwealth Games 2018 event in Gold Coast, will lead India’s contingent in the multi-sport event.The 2018 Asian Games will take place from August 18 to September 2 and will be held in Indonesian cities of Jakarta and Palembang.
7.HSBC has launched a new digital platform-MyDeal.MyDeal will simplify capital raising process through capital markets by providing real-time access to information such as investors’ feedback, profiles, client orders and deal pricing.The platform contains all the information relating to a client’s capital markets transaction and is updated on the real-time basis.
8.World Biofuel Day is observed every year on 10th August.The World Biofuel Day is being observed by the Ministry of Petroleum & Natural Gas since 2015.
9.The Appointments Committee of the Cabinet has re-appointed R S Sharma Chairman of the Telecom Regulatory Authority of India (TRAI).This is for the first time that any TRAI chief has got an extension beyond the three-year tenure.
10.According to the Reserve Bank of India’s survey of inward remittances for 2016-17, the United Arab Emirates (UAE) has emerged as the top source of inward remittances, while Kerala has received the maximum funds sent from abroad.UAE’s share in total remittances was 26.9%.More than half of remittances received by Indian residents were used for family maintenance, i.e., consumption.
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